In the ever-evolving world of cryptocurrency, XRP has recently emerged as a potential leader poised to outperform two giants: Bitcoin and Ethereum. Crypto analyst Egrag Crypto has made a compelling case for XRP’s dominance, backed by detailed analysis suggesting XRP’s multiplier is significantly higher than that of BTC and ETH.
XRP Price Expected to Surpass Bitcoin and Ethereum
In a recent post on X, Egrag Crypto forecasted that XRP is on track to outpace Bitcoin and Ethereum. According to his analysis, XRP’s market cap could soar to between $619.61 billion and $1.56 trillion. This impressive prediction stems from XRP’s current market position and its potential for growth, which the analyst argues is far superior to that of the leading cryptocurrencies by market cap.
Analysis of XRP’s Explosive Growth Potential
Egrag Crypto delves deeper into the factors that could lead to a dramatic increase in XRP’s market dominance. He points out that XRP’s current dominance is 3.93%, surpassing the Fibonacci 0.382 level. Should XRP close above the Fibonacci 0.5 (5.57%), it may lead to double-digit dominance in the near future. This pivotal moment could mark the beginning of a substantial upward trajectory for XRP.
Furthermore, Egrag Crypto emphasizes the significance of XRP’s VRVP, which shows a void above 4.30%. This indicates minimal resistance, paving the way for a smoother journey to new all-time highs (ATH) and beyond. The “Kaboom green zone” starting at Fib 0.50 is a crucial indicator of the potential for a major price surge.
Key Levels to Watch for XRP’s Market Dominance
According to Egrag Crypto, XRP’s smaller market cap offers immense upside potential. Its ability to grow rapidly in dominance as it aligns with the broader altcoin rally is notable. The analyst identifies three critical Fibonacci levels to monitor for XRP’s dominance: Fib 0.0702, Fib 0.786, and Fib 0.888. These levels correspond to a market dominance of 11.44%, 15.22%, and 21.5%, respectively.
Looking forward, Egrag Crypto envisions the total cryptocurrency market cap reaching $5.42 trillion or even $7.25 trillion if it attains Fib 1.414 and Fib 1.618, respectively. In this scenario, XRP’s market cap could range from $1.16 trillion to a staggering $1.56 trillion, contingent upon reaching a 21.5% dominance.
Aiming for All-Time Highs: XRP’s Immediate Goal
With a year-to-date (YTD) gain of over 200%, XRP’s short-term objective is to rally to its previous ATH of $3.80. Crypto analyst Javon Marks has expressed confidence in XRP’s ability to achieve this milestone, forecasting an exhilarating rally to a new ATH of $4.8.
Marks observed that XRP recently touched the $2.47 target, briefly surpassing it before retracing this resistance level. However, he identified this as a low time-frame bullish signal, suggesting that a move above this resistance level is imminent. If realized, this could set the stage for an upward rally to $4.8.
As of the latest data, XRP is trading at approximately $2.19, experiencing a decline of over 4% in the past 24 hours, according to CoinMarketCap.
Price moving back above $2.1 | Source: XRPUSDT on TradingView.com
